Russ Mould

market start the week in the red.

And Asian and European markets have lost some of the momentum that they had this year and they're in the red again today.

One of the most intriguing things in the final quarter of last year and the early stages of this year was the word tariff wasn't really being discussed by stock market or bond market strategists anymore.

They felt that we knew where they stood with that, where markets stood with that, that the possible effects were factored in.

And now this conversation is starting again, which again I think is another reason why we have markets losing a bit of that early year positive momentum.

It could.

Everybody has to listen to the most powerful leader in the world and the person who ultimately is in charge of the country that's the world's biggest economic engine.

It's home to its world's biggest bond market, biggest stock market, and its reserve currency.

So what the president has to say always matters.

But under these circumstances, yes, given that nobody's quite sure what he's going to say next.

Breakfast Business with Enterprise Ireland on Newstalk.

Morning to you, Susan.

Hope you're well.

Sound as if you are.

So this was a proposal from the Social Democrats, left-leaning, to basically set up a climate change fund using inheritance tax on some of Switzerland's well-heeled residents.

And the Swiss voted 78% to say thank you, but no thank you.

So I guess what they've done there is prioritise what Switzerland is famous for, which is a haven for indeed the well-heeled, because that's ultimately where the country has made its money for pretty much time immemorial.

Correct.

And this is one of the reasons why, again, it gets back to what Switzerland has perceived as a haven.

It's one of the reasons why the Swiss franc is probably the world's strongest currency, why the economy is pretty stable, and why times of duress or even just times of governments rattling down the back of the sofa for cash, as a lot of them are right now, people tend to head to Switzerland.